Court : Punjab and Haryana
Reported in : [1986]157ITR747(P& H)
..... exclude mens rea. that element permeated in cit v. anwar ali : [1970]76itr696(sc) , when thesupreme court interpreted section 28 of the indian income-tax act, 1922. later, when the present act was amended by the finance act, 1964, by causing changes in section 271(1)(c), the efficacy of anwar ali's case : [1970]76itr696(sc) came to be doubted. this ..... down as follows (at p. 671 of 135 itr):'to conclude, it must be held that the patent intent of the legislature in amending section 271(1)(c) and in inserting the explanation thereto by the finance act of 1964 was to bring about a change in the existing law. consequently, the ratio of anwar ali's case : [1970]76itr696(sc ..... ) , which had considered the earlier provision of section 28(1) of the 1922 act, is no longer attracted. the true legal import of the .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1989]179ITR265(P& H)
..... :'whether, on the facts and in the circumstances of the case, the tribunal was justified in deleting the penalty ignoring the amendment made by the finance act. 1964, to section 271(1)(c) of the income-tax act, 1961, with effect from april 1, 1964 ?'3. it will be seen that the returned income was less than 80 per cent, of the ..... s.s. sodhi, j.1. the matter here concerns the burden of proof under section 271(1)(c) of the income-tax act, 1961, in the context of the amendment made therein by the finance act, 1964.2. the assessee, simco auto india, declared an income of rs. 6,197. after the examination of the accounts of the assessee, the income-tax officer ..... it now stands settled by the judgment of our pull bench in vishwakarma industries v. cit , that in such a situation, the provisions of the explanation under section 271(1)(c) of the act become applicable and when this is so, three legal presumptions arise, namely :(i) that the amount of the assessed income is the correct income and it is .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2002]256ITR106(P& H)
..... is no order seeking to justify this levy under explanation 1 to section 234b as substituted by the finance act, 2001. in this view of the matter, it is not necessary for us to go into the validity of the retrospective operation of the said ..... biscuits ltd. v. cit : [2000]243itr519(kar) . he further submitted that the levy of such interest can only be justified under explanation 1 to section 234b as substituted by the finance act, 2001, which had been made applicable retrospectively with effect from april 1, 1989. he pleaded that since the provision for charge of interest has to ..... of the view that the challenge to the vires of the retrospective operation of explanation 1 to section 234b of the act as substituted by the finance act, 2001, is of academic interest only. in the case in hand, the interest under sections 234a, 234b and 234c had been levied on september 13, 1999, under the unamended provisions. there .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2007)212CTR(P&H)77
..... res integia as a division bench of this court in the case of cit v. roshan singh makkai has taken the view that the proviso added to section 113 by finance act, 2002, cannot be considered as retrospective in its effect and therefore would not be applicable to the search conducted on 6th april, 2000. learned counsel for ..... present case took place on 6th april, 2000, which was much prior to the date of amendment made in section 113 of the act. the amendment was incorporated on 1st june, 2002, by inserting proviso to section 113 by finance act, 2002. it was by the amendment that levy of surcharge on the undisclosed income was specifically provided w.e ..... the observation that the surcharge was levied as per the provisions of part i of the 1st schedule appended to finance act, 2000. on the ground that there was no mistake apparent on the record, the application under section 154 of the act was rejected. however, the commissioner of income-tax (appeals), ludhiana [for brevity 'the cit(a)'], reversed .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1998)144CTR(P& H)76
..... sale of the land, that is, by conversion of the land into cash. the resultant income is not agricultural income. the explanation inserted in s. 2(1a) by the finance act, 1989, w.e.f. 1st april, 1970, makes the position clear when it declares that revenue derived from land shall not include and shall be deemed never to have included ..... qualify for such exemption, it is not enough that the land was once agricultural land. it must be agricultural land even at the time of sale or transfer. by the finance act, 1970, w.e.f. the asst. yr. 1970-71, certain specified lands situate in urban areas or semi-urban areas were brought within the definition of capital asset. ..... ) specifically differed with the view taken by the bombay high court in manubhai a. sheths case (supra) and held that the explanation inserted in s. 2(1a) by the finance act, 1989, w.e.f. 1st april, 1970, has brought about a change in the law and after that date the sale made of certain specified agricultural lands situated in the .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1997)140CTR(P& H)583; [1997]225ITR675(P& H)
..... all the facts relating to the same and material to the computation of his total income have been disclosed by him.' 10. clause (c) of section 271(1) had been earlier amended by the finance act, 1964, with effect from april 1, 1964, whereby the word 'deliberately'was omitted. earlier when the word 'deliberately' existed there, the second ..... distinctly and these are with respect to two separate offences. the two charges can subsist in many cases. the effect of the explanation, as introduced by the finance act, 1964, and the deletion of the word 'deliberately', was that the onus had been shifted from the department to the assessee. the explanation amounts to a ..... april 1, 1964, mere furnishing of inaccurate particulars attracted the levy of penalty. explanation 1 had also been inserted earlier by the finance act, 1964, but was substituted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976. the provision as it existed in the relevant assessment year 1976-77 can be divided .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1992)105CTR(P& H)378; [1993]199ITR490(P& H)
..... by the sale of the land, that is, by conversion of the land into cash. the resultant income is not agricultural income. the explanation inserted in section 2(1a) by the finance act, 1989, with effect from april 1, 1970, makes the position clear when it declares that revenue derived from land shall not include and shall be deemed ..... of land included in items (a) and (b) of section 2(14)(iii) of the act. in order to qualify for such exemption, it is not enough that the land was once agricultural land. it must be agricultural land even at the time of sale/transfer. by the finance act, 1970, with effect from the assessment year 1970-71, certain ..... specified lands situate in urban areas or semi-urban areas were brought within the definition of a capital asset. however, clause (viii) (sic) inserted in section 2(47) exempts capital gains on any transfer of agricultural .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 2008[9]STR229; [2007]14STT92
..... by the assessee-respondent do not fall in any of the category specified in the definition of 'business auxiliary service' as per subjection 19 of section 65 of the finance act, 1994 (for brevity, 'the finance act).2. the argument raised by the revenue is that the activity carried out by the assessee-respondent amounted to promotion or marketing of service provided ..... putting across or dropping of the name of the principal company, it would become part of the definition of 'business auxiliary service' within the meaning of section 65(19)(ii) of the act. the view taken by the tribunal is unassailable and deserves to be upheld.4. in view of above, instant appeal is dismissed being squarely covered by ..... orderm.m. kumar, j.1.this appeal filed by the revenue under section 35g of the central excise act, 1944 (for brevity, 'the act'), challenges order dated 30-8-2006, passed by the customs, excise and service tax appellate tribunal, new delhi (for brevity, 'the tribunal') (annexure p-3), holding that .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2002)173CTR(P& H)97
..... no order seeking to justify this levy under explanation 1 to section 234b as substituted by the finance act, 2001. in this view of the matter, it is not necessary for us to go into the validity of the retrospective operation of the said ..... biscuits ltd. v. cit : [2000]243itr519(kar) >. he further submitted that the levy of such interest can only be justified under expianation 1 to section 234b as substituted by the finance act, 2001, which had been made applicable retrospectively with effect from 1-4-1989. he pleaded that since the provision for charge of interest has to be construed ..... we are of the view that the challenge to the vires of the retrospective operation of expianation1 to section 234b of the act was substituted by the finance act, 2001, is of academic interest only. in the case in hand, the interest under sections 234a, 234b and 234c had been levied on 13-9-1999 under the unamended provisions. there is .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1970]77ITR405(P& H)
..... reference under sub-section (1) of section 66 of the income-tax act, 1922, the questions referred are '(1) whether, on the facts and in the circumstances of the case, the assessee's profits and gains earned in the calendar year 1955 were assessable to tax for the assessment year 1956-57 at the rates in force according to indian finance act, 1956, ..... the assessee-company's profits and gains earned in the calendar year of 1955 were assessable to tax for the assessment year 1956-57 at the rates as in the finance act of 1956 and not in accordance with clause 23 of the agreement of april 1, 1938, upon whichthe assessee-company based its claim. the answer to the question ..... of its business, was in the nature of capital expenditure and it was for the completion of that that the expenditure, now claimed as revenue expenditure under section 10(2)(xv) of the act, was incurred by the assessee-company and it was thus a part and parcel of the expenditure incurred by it for the expansion of its business. .....
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